Brown & Brown (NYSE:BRO) Price Target Raised to $94.00 at Truist Financial

Brown & Brown (NYSE:BRO) had its target price lifted by Truist Financial from $92.00 to $94.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group cut Brown & Brown from a buy rating to a hold rating and lowered their target price for the company from $85.00 to $78.00 in a research note on Tuesday, January 9th. Royal Bank of Canada lifted their target price on Brown & Brown from $87.00 to $95.00 and gave the company an outperform rating in a research note on Wednesday, March 20th. UBS Group lifted their price objective on Brown & Brown from $75.00 to $81.00 and gave the stock a neutral rating in a research note on Monday, January 29th. The Goldman Sachs Group raised Brown & Brown from a neutral rating to a buy rating and decreased their price objective for the stock from $84.00 to $83.00 in a research note on Monday, January 8th. Finally, Raymond James boosted their target price on Brown & Brown from $90.00 to $95.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $87.10.

Brown & Brown Trading Down 1.0 %

Shares of BRO opened at $81.46 on Wednesday. The stock has a fifty day moving average price of $84.27 and a two-hundred day moving average price of $77.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.95 and a current ratio of 1.97. Brown & Brown has a 52-week low of $61.71 and a 52-week high of $87.99. The company has a market cap of $23.24 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 2.25 and a beta of 0.78.

Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.07. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.22 billion. Brown & Brown had a return on equity of 16.43% and a net margin of 21.09%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. Analysts predict that Brown & Brown will post 3.61 EPS for the current fiscal year.

Brown & Brown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be issued a $0.13 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.64%. Brown & Brown’s dividend payout ratio (DPR) is 16.00%.

Insider Activity

In related news, Chairman Hyatt J. Brown sold 144,323 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $85.96, for a total transaction of $12,406,005.08. Following the sale, the chairman now owns 37,460,605 shares in the company, valued at $3,220,113,605.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.02% of the company’s stock.

Institutional Trading of Brown & Brown

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fortitude Family Office LLC bought a new stake in Brown & Brown in the fourth quarter valued at approximately $31,000. Park Place Capital Corp lifted its position in shares of Brown & Brown by 166.5% in the fourth quarter. Park Place Capital Corp now owns 509 shares of the financial services provider’s stock valued at $36,000 after buying an additional 318 shares during the last quarter. Alaska Permanent Fund Corp acquired a new stake in shares of Brown & Brown in the first quarter valued at approximately $36,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Brown & Brown by 174.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 548 shares of the financial services provider’s stock valued at $39,000 after buying an additional 348 shares during the last quarter. Finally, First PREMIER Bank acquired a new stake in shares of Brown & Brown in the first quarter valued at approximately $40,000. Institutional investors own 71.01% of the company’s stock.

About Brown & Brown

Brown & Brown, Inc markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment provides property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, risk management strategies, loss control survey and analysis, consultancy, and claims processing services.